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China commission approves Kemet acquisition

Staff Report
Published Jan. 2, 2013

Simpsonville-based Kemet Corp. said today its $50 million acquisition of a 34% stake in Nec Tokin should close Feb. 1 after receiving clearance from the Anti-monopoly Bureau of the Ministry of Commerce of the People's Republic of China.

Nec Tokin, based in Tokyo, manufactures tantalum, electro-magnetic and electro-mechanical capacitors, access devices and ceramics. Kemet announced plans in March to buy a 34% stake in the company from Nec Corp. of Japan. Kemet has an option to acquire full ownership.

Nec Tokin has manufacturing locations in Sendai, Shiroishi and Toyama, Japan; Xiamen, China; Dong Nai, Vietnam; Calamba, Philippines; and Chachoengsao, Thailand. It has 10 sales offices in the U.S., Europe and Asia.

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Kemet acquires portion of Nec Tokin